Adobe Systems Incorporated (NASDAQ:ADBE) falls as a result of its weak FQ3 guidance which was included in the FQ2 report, and JMP and Atlantic Securities have downgraded shares as a response. Credit Suisse gives the stock a Neutral rating and is concerned that FQ4’s implied guidance is “relatively aggressive.” Adobe boasted about its promotional help in ending FQ2 with more than 90K paid subs for its Creative Cloud platform. Adobe also states that 65% of paid subscribers are now subscribing to the whole Creative Cloud suite. Shares of Adobe Systems Incorporated are trading 3.65% lower today.
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La-Z-Boy (NYSE:LZB) reflects a declining revenue trend through its FQ4 report highlights. The company’s price action has seen a big swing and traded up 4% in AH trading following the report last night. Shares of La-Z-Boy Incorporated are trading 11.27% lower today.
Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX) has used an ongoing Phase 2b study of IDX184, which is its leading drug for hepatitis C, to provide positive clinical data showing suppression of the virus. Shares of Idenix Pharmaceuticals, Inc. are trading 16.01% higher today.
Walgreen Company (NYSE:WAG): Because several research firms do not support Walgreen’s acquisition of its 45% stake in Alliance Boots, a British drugstore chain, stock retreats. Citigroup and Macquarie state that the deal, allowing Walgreen the option to acquire the entire stake of Alliance Boots within three years, will not solve Walgreen’s U.S. problems. Shares of Walgreen Company are trading 4.35% lower today.
Network Engines, Inc. (NASDAQ:NEI) has agreed to be acquired by Unicom Systems, a larger IT company based in California, in a $63M deal. Shares of Network Engines, Inc. are trading 0.70% lower today.
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